TORONTO, Dec. 23, 2011 (GLOBE NEWSWIRE) -- GeneNews Limited (TSX:GEN) today announced an extension to the term of certain share purchase warrants (the "Warrants"). The Warrants were issued by GeneNews on January 16, 2009 and February 11, 2009 and each Warrant entitles the holder thereof to purchase one common share of GeneNews at an exercise price of $0.25 per common share. There are a total of 1,000,000 warrants set to expire on January 16, 2012 and 1,978,065 warrants set to expire on February 11, 2012. The term of the Warrants has been extended to July 31, 2012. All other provisions of the Warrants remain the same. No Warrants are held by insiders of GeneNews. The effective date of the extension to the term of the Warrants will be 10 business days after the date of this press release.
About GeneNews
GeneNews is an emerging molecular diagnostics company focused on the application of functional genomics to enable early diagnosis and personalized health management based on disease-specific biomarkers. The Company has a patented core platform technology, the Sentinel Principle®, which has the power to detect and stage virtually any disease or medical condition from a simple blood sample. GeneNews is currently applying the Sentinel Principle® in major areas with unmet clinical needs such as cancer, arthritis, cardiovascular disease and neurological disorders. GeneNews' lead product, ColonSentry™, is the world's first blood test to pre-screen and assess an individual's current risk for colorectal cancer. For more information on GeneNews and ColonSentry™, go to www.GeneNews.com or www.ColonSentry.com.
Forward-Looking Statements
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings, annual information form and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.